Tuesday, July 17, 2012

Democrats threaten to go over ‘fiscal cliff’ if GOP fails to raise taxes

Democrats are making increasingly explicit threats about their willingness to let nearly $600 billion worth of tax hikes and spending cuts take effect in January unless Republicans drop their opposition to higher taxes for the nation’s wealthiest households.

Emboldened by signs that GOP resistance to new taxes may be weakening, senior Democrats say they are prepared to weather a fiscal event that could plunge the nation back into recession if the new year arrives without an acceptable compromise.
Read the rest here.

See also this related story.


The Archer of the Forest said...

Children in a sand box...

Visibilium said...

The fiscal cliff must be a great compromise since no one likes it. Personally, I like half of it.